Kroenke increases stake in Arsenal

Soccer Betting Lines

03/30/2009 - London, England (Sportsbook Betting Lines) - American business tycoon Stan Kroenke has increased his stake in Arsenal to just over 20 percent after purchasing further shares from fellow director Danny Fiszman.

The Gunners board have acted together to try and prevent a possible takeover of the club by Alisher Usmanov's Red & White Holdings.

Fiszman commented: "I am pleased that Stan Kroenke has made a further substantial commitment to the club by acquiring approximately a third of my holding.

"Stan's long-term commitment to sport in general and football in particular has been well documented.

"I am therefore delighted that he has shown this desire to deepen his ties with Arsenal.

Kroenke himself added: "After having been invited to join the board last year, I am delighted to be able to increase my shareholding in Arsenal.

"I will continue to work closely with my board colleagues to maintain the stable environment in which the club operates and to preserve the self- sustaining business model enjoyed by the club."

(Courtesy of sportbox.tv)

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